thomasfar6
Long

ETHEREUM - Cup & Handle Formation.

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Ethereum awaiting to break through the handle's support or resistance, keep an eye out and set your stop-losses accordingly. I have my bets on a long position.

Cup & Handle Formation - The cup-and-handle pattern is aptly named because it resembles a teacup with a handle. On a stock chart, the cup appears as "U" shape. The handle appears as if it had the shape of a backslash symbol or "\". The cup and handle is a bullish continuation pattern. It is marked by a consolidation, followed by a breakout.

Good Luck!!
good job! Tks so much
+1 Reply
@kid001, No problem!
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Great chart
+1 Reply
thomasfar6 hardeight
@hardeight, Thankyou hardeight!
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Great analysis
+1 Reply
thomasfar6 ShaunMafunga
@ShaunMafunga, Thanks for your comment Shaun!!
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lets break out n up -- it will help me bounce back after I made a bad trade a couple days ago ! -- I went against my rules and traded without sleep and then made a trade without a stop loss !!!!!!!! OMG :/

i took a bunch of ETH against my BTC assuming the btc would be dropping at the same time as the ETH would break up -- i got into trade at .04923 and .04623 and BOOM btc kept jumping up to high 7k ...

i dont wanna take too much of a loss -- so I'm hoping the BTC will hold off as the ETH takes off and I can finalize the trade ! :) wishful analysis -- thx my friend i really like your work and pro education ! respect
+1 Reply
thomasfar6 invisiblefriend
@invisiblefriend, Oh no that is not good haha. Bitcoin is always the one you need to watch, it kind of controls where the other cryptocurrencies will go so it needs to be on your radar before every trade unless there has been some sort of news. Set your losses at the lower handlebar that should not be too much of a loss. If BTC breaks up above $8,000 ETH would probably react negatively.Thanks for your detailed comment!
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